CAIRO, April 10 (Reuters) - Egypt's annual urban consumer inflation rate in March climbed to 32.7% year-on-year, just shy of an all-time record, from 31.9% in February, data from the country's statistics agency CAPMAS showed on Monday.
The surging inflation rate follows a series of currency devaluations starting in March 2022, a prolonged shortage of foreign currency and continuing delays in getting imports into the country.
The median forecast of 13 analysts polled showed annual urban consumer inflation rising to 33.6% in March.
Egypt's highest inflation rate ever was 32.952%, reached in July 2017, eight months after Egypt devalued its currency by half as part of a previous $12 billion IMF support package.
The core inflation rate, which excludes fuel and some volatile food items, is expected to be released later on Monday.